Entertainment accounting firm Cast & Crew announced Friday an agreement to acquire Media Services, a production payroll and management company for the entertainment industry.
Financial terms of the deal between Cast & Crew, in Burbank, and Media Services, in Los Angeles, were not disclosed. Media Services, which offers similar services to Cast & Crew, will continue to operate as a separate company.
It is the second acquisition by Cast & Crew since its purchase by an equity investment fund of EQT Group AB, in Stockholm, in December 2018.
Cast & Crew Chief Executive Eric Belcher said that Media Services was a great fit for the company. As a combined company, existing clients will benefit from the experience, products, and services that each company has honed over the past several decades, he added.
“We are well-aligned in our shared values, complementary strategies, compatible technology portfolios and consistent corporate cultures,” Belcher said in a statement.
EQT Partner Kasper Knokgaard said the firm was pleased to see the expansion and diversification of the Cast & Crew portfolio.
“The addition of a strong brand like Media Services will add to Cast & Crew’s solid platform and help to enhance and expand the scope of the products and services that we collectively offer to our clients,” Knokgaard said in a statement.